When is an investment not an investment?

The event in question is the announcement from the Financial Services Authority (FSA) that the ridiculous rule which defined as an investment, any product that includes pure term life insurance if the term is 10 years or more and it ends after age 70. That’s why it’s often called the “70/10 rule” and scrapping it is something I’ve long been campaigning for. The 70/10 rule dates back to the 1980’s when investment products were first defined for the purposes of regulation. But it wasn’t until general insurance regulation was looming that it looked as though it was going to cause a problem...